Balyasny Asset Management LLC Acquires New Position in Cogent Communications Holdings, Inc. (CCOI)

Balyasny Asset Management LLC acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the technology company’s stock, valued at approximately $1,203,000. Balyasny Asset Management LLC owned 0.07% of Cogent Communications Holdings as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Cogent Communications Holdings by 0.5% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after purchasing an additional 38 shares during the period. Pinebridge Investments L.P. lifted its stake in Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after acquiring an additional 53 shares during the period. Aperio Group LLC lifted its stake in Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after acquiring an additional 99 shares during the period. Arizona State Retirement System lifted its stake in Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock worth $858,000 after acquiring an additional 100 shares during the period. Finally, Laurion Capital Management LP lifted its stake in Cogent Communications Holdings by 1.3% in the second quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock worth $321,000 after acquiring an additional 100 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

CCOI has been the subject of a number of research analyst reports. Deutsche Bank AG raised their price target on Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. BidaskClub lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Royal Bank Of Canada raised their price target on Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Finally, Wells Fargo & Company lowered Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $46.00 to $48.00 in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.23.

WARNING: “Balyasny Asset Management LLC Acquires New Position in Cogent Communications Holdings, Inc. (CCOI)” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/15/balyasny-asset-management-llc-acquires-new-position-in-cogent-communications-holdings-inc-ccoi.html.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) opened at 50.00 on Friday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 142.86 and a beta of 0.66. Cogent Communications Holdings, Inc. has a 12 month low of $34.45 and a 12 month high of $51.85. The firm’s 50-day moving average price is $47.86 and its 200 day moving average price is $43.38.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Cogent Communications Holdings’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current year.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.95, for a total value of $41,950.00. Following the completion of the sale, the vice president now directly owns 42,052 shares in the company, valued at approximately $1,764,081.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tim Weingarten sold 1,100 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $

Several other large investors also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Cogent Communications Holdings by 0.5% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after purchasing an additional 38 shares during the period. Pinebridge Investments L.P. lifted its stake in Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after acquiring an additional 53 shares during the period. Aperio Group LLC lifted its stake in Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after acquiring an additional 99 shares during the period. Arizona State Retirement System lifted its stake in Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock worth $858,000 after acquiring an additional 100 shares during the period. Finally, Laurion Capital Management LP lifted its stake in Cogent Communications Holdings by 1.3% in the second quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock worth $321,000 after acquiring an additional 100 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

CCOI has been the subject of a number of research analyst reports. Deutsche Bank AG raised their price target on Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. BidaskClub lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Royal Bank Of Canada raised their price target on Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Finally, Wells Fargo & Company lowered Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $46.00 to $48.00 in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.23.

WARNING: “Balyasny Asset Management LLC Acquires New Position in Cogent Communications Holdings, Inc. (CCOI)” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/15/balyasny-asset-management-llc-acquires-new-position-in-cogent-communications-holdings-inc-ccoi.html.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) opened at 50.00 on Friday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 142.86 and a beta of 0.66. Cogent Communications Holdings, Inc. has a 12 month low of $34.45 and a 12 month high of $51.85. The firm’s 50-day moving average price is $47.86 and its 200 day moving average price is $43.38.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Cogent Communications Holdings’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current year.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.95, for a total value of $41,950.00. Following the completion of the sale, the vice president now directly owns 42,052 shares in the company, valued at approximately $1,764,081.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tim Weingarten sold 1,100 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $46.69, for a total value of $51,359.00. Following the completion of the sale, the director now owns 20,302 shares of the company’s stock, valued at $947,900.38. The disclosure for this sale can be found here. Insiders sold a total of 31,466 shares of company stock valued at $1,422,354 over the last quarter. Company insiders own 9.48% of the company’s stock.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

Receive News & Ratings for Cogent Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply